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JinkoSolar (JKS) Inks Logistics Solutions Deal With Maersk, Shares Up
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Shares of JinkoSolar Holding Co., Ltd. (JKS - Free Report) moved up more than 9% after it signed an agreement with Maersk to provide a range of comprehensive digitalized logistics solutions, and to create a green logistics ecosystem.
The deal strengthens JinkoSolar’s position in the solar market and will assist in global shipment growth over the next few years.
Why Digitalized Logistics Services?
Per the deal terms, the companies will jointly conduct multi-dimensional cooperation based on existing end-to-end transportation agreements, and explore in-depth cooperation in digitalized logistics services.
According to Logistics News, digital supply chains using artificial intelligence and enabling digital payments are ideal during emergencies such as the Covid-19 pandemic. With the outbreak, many industries faced significant supply chain and logistic disruption due to lockdowns imposed by various governments. To meet the essential deliveries, companies are transforming their existing supply chain capabilities with digital logistics platform. This evidently will help JinkoSolar in expanding worldwide.
In a similar line, SunPower Corporation (SPWR - Free Report) has partnered with Maxeon Solar Technologies for 1 GW of modules for solar projects.
Global Solar Boom
A report from Fortune Business Insights projected that the global solar power market’s size will reach $194.75 billion by 2027 from $163.7 billion in 2019. To reap the benefits of this expanding market, JinkoSolar and other solar players are extending their global footprint. JinkoSolar’s investment in research and development activities has allowed it to develop high-efficiency solar module with conversion efficiency reaching 23.53%. This high quality modules will assist the company to grab more deals globally as it will assist in lowering cost of setting up utility scale solar power plants.
Enphase Energy (ENPH - Free Report) expanded operations outside the United States by launching its Encharge battery storage system in Germany with a configuration ranging from 3.5kWh to 42kWh. Enphase’s battery storage system will gain from the increasing usage of solar power in Germany. FirstSolar (FSLR - Free Report) is investing $680 million to expand photovoltaic (PV) solar modules manufacturing capacity and capitalize on the increasing demand of solar PV modules across the globe.
Image: Bigstock
JinkoSolar (JKS) Inks Logistics Solutions Deal With Maersk, Shares Up
Shares of JinkoSolar Holding Co., Ltd. (JKS - Free Report) moved up more than 9% after it signed an agreement with Maersk to provide a range of comprehensive digitalized logistics solutions, and to create a green logistics ecosystem.
The deal strengthens JinkoSolar’s position in the solar market and will assist in global shipment growth over the next few years.
Why Digitalized Logistics Services?
Per the deal terms, the companies will jointly conduct multi-dimensional cooperation based on existing end-to-end transportation agreements, and explore in-depth cooperation in digitalized logistics services.
According to Logistics News, digital supply chains using artificial intelligence and enabling digital payments are ideal during emergencies such as the Covid-19 pandemic. With the outbreak, many industries faced significant supply chain and logistic disruption due to lockdowns imposed by various governments. To meet the essential deliveries, companies are transforming their existing supply chain capabilities with digital logistics platform. This evidently will help JinkoSolar in expanding worldwide.
In a similar line, SunPower Corporation (SPWR - Free Report) has partnered with Maxeon Solar Technologies for 1 GW of modules for solar projects.
Global Solar Boom
A report from Fortune Business Insights projected that the global solar power market’s size will reach $194.75 billion by 2027 from $163.7 billion in 2019. To reap the benefits of this expanding market, JinkoSolar and other solar players are extending their global footprint. JinkoSolar’s investment in research and development activities has allowed it to develop high-efficiency solar module with conversion efficiency reaching 23.53%. This high quality modules will assist the company to grab more deals globally as it will assist in lowering cost of setting up utility scale solar power plants.
Enphase Energy (ENPH - Free Report) expanded operations outside the United States by launching its Encharge battery storage system in Germany with a configuration ranging from 3.5kWh to 42kWh. Enphase’s battery storage system will gain from the increasing usage of solar power in Germany. FirstSolar (FSLR - Free Report) is investing $680 million to expand photovoltaic (PV) solar modules manufacturing capacity and capitalize on the increasing demand of solar PV modules across the globe.
Price Performance and Zacks Rank
In the past 12 months, shares of JinkoSolar, a Zacks Rank #3 (Hold) company, have gained 196.2%, outperforming the industry’s 26.1% growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research